Spectrum ASA: Spectrum commences an 1,800 km2 Multi Client 3D seismic survey offshore Norway in the Western Barents Sea.

OSLO, NORWAY: Spectrum commences an 1,800 km2 Multi Client 3D seismic survey offshore Norway in the Western Barents Sea.

The new survey, designed based on interest from industry will tie and complement Spectrum's existing 3D surveys in the area. When completed the combined coverage will total close to 20,000 km2 over prospective and potential 24th Round acreage.

Data is being acquired with 10 x 8,000 meter streamer offsets to record data necessary to understand the basins architecture as well as to better image the prospective zones within the Palaeocene-Eocene and Jurassic-Cretaceous as well as the Late Cretaceous marine sands. The data will be processed by Spectrum and a broadband fast-track volume will be available during Q1 2017 to allow early participating clients to commence their initial interpretation and prospect screening. The final PreSTM Broadband dataset and offset volumes will be available during Q2 2017, ahead of the 24th Norwegian licensing round in 2017.

The survey is acquired in partnership with BGP.

For further information, please contact:

Jan Schoolmeesters, COO
Email: jan.schoolmeesters@spectrumgeo.com
Tel: +47 9177 7961

Kim Gunn Maver, SVP Northwest Europe
Email: Kim.Maver@spectrumgeo.com
Tel: +47 9018 3258

About Spectrum
Spectrum provides innovative Multi-Client seismic surveys and high-quality seismic imaging services to the global oil and gas industry from offices in Norway, the UK, USA, Brazil, Egypt, Australia, Indonesia and Singapore. Spectrum designs, acquires and processes seismic data to deliver high quality solutions through its dedicated and experienced workforce.

Spectrum holds the world's largest library of Multi-Client 2D marine seismic data and a significant amount of 3D seismic. The company's strategy focuses on both the major, established hydrocarbon-producing regions of the world as well as key frontier areas identified by our experienced team of geoscientists. The Spectrum library of Multi-Client data contains projects from many of the foremost oil producing regions of the world. These include new acquisition, reprocessing and interpretation reports.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Spectrum ASA via GlobeNewswire